HomeMy WebLinkAbout84-72 - ADMIN Resolution - City Council - 1984/05/21May 21, 1984
8d
RESOLUTION NO. 84-72
RESOLUTION APPROVING SECURITIES FOR COLLATERAL FROM
SHELARD NATIONAL BANK, ST. LOUIS PARK, MN.
WHEREAS, the Shelard National Bank of St. Louis Park, a City depository,
has presented the following additional securities totaling $250,000 as
collateral to secure deposits of the City:
$100,000 Minneapolis, Mn. Hospital Bonds, 9.80%, due 8/01/97
$100,000 St. Louis Park Cltr. Mlty FM, 9.50%, due 12/01/98
$ 50,000 Columbia Heights, Mn. G.O. Bonds, 8.0%, due 3/01/93
BE IT RESOLVED by the City Council of the City of St. Louis Park that
the Treasurer be authorized to accept said securities as collateral
and that said collateral be deposited with the First National Bank of
St. Paul, Minnesota, for safekeeping.
Adopted by the City Council May 21, 1984
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Attest:
ity Clerk
Reviewed for Administration:
Manager
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Approved as to form and legality:
City Attornef